Kraken CEO: Crypto Investors Should Look Out for Themselves
February 13, 2018
Traders that would like to invest in cryptocurrencies should be aware of the burden of responsibility upon them. They also must take care of themselves and their investments, says the head of one of the largest cryptocurrency exchanges in the world.
Jesse Powell, CEO of Kraken, which is currently the eight largest cryptocurrency exchange in the world by the trading volume (according to Coinmarketcap) said that investors should look after themselves and be aware of all related risks. He also advises not to hope that some third party would protect one's investments in case of market volatility.
He told CNBC:
"I think ultimately consumers need to look out for themselves, look into the fundamentals of any coin and not rely on any particular exchange to protect them from market volatility."
Powell said that Kraken always conducts a thorough research of cryptocurrencies to ensure that every coin or token, that is listed on the exchange, is not a scam. Although he added that the exchange can not give forecasts about the future of any cryptocurrency.